TD Asset Management Inc Trims Holdings in Samsara Inc. (NYSE:IOT)

Key Points

• TD Asset Management Inc has reduced its holdings in Samsara Inc. by 56.6%, owning 266,030 shares after selling 347,461 shares in the first quarter.
• Multiple hedge funds have increased their stakes in Samsara, with notable increases of 262.0% and 300.0% reported by NewEdge Advisors LLC and Keystone Financial Group Inc. respectively.
• Wall Street analysts have mixed opinions on Samsara, with consensus being a "Hold" rating and target prices ranging from $50.00 to $54.00.

TD Asset Management Inc lessened its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 56.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 266,030 shares of the company's stock after selling 347,461 shares during the period. TD Asset Management Inc's holdings in Samsara were worth $10,197,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after purchasing an additional 414 shares during the period. Keystone Financial Group Inc. increased its holdings in Samsara by 300.0% during the 1st quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock valued at $25,000 after purchasing an additional 450 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Samsara during the 1st quarter valued at about $31,000. Fourth Dimension Wealth LLC purchased a new position in shares of Samsara during the 4th quarter worth approximately $38,000. Finally, CWM LLC grew its holdings in shares of Samsara by 385.3% during the 1st quarter. CWM LLC now owns 1,053 shares of the company's stock worth $40,000 after acquiring an additional 836 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IOT shares. Wall Street Zen downgraded Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Wells Fargo & Company upped their target price on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Piper Sandler set a $53.00 price target on Samsara and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. BMO Capital Markets boosted their price target on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Finally, Morgan Stanley dropped their price target on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Samsara has a consensus rating of "Hold" and a consensus target price of $50.64.

Samsara Price Performance

NYSE:IOT opened at $38.04 on Friday. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of -172.89 and a beta of 1.63. Samsara Inc. has a one year low of $31.40 and a one year high of $61.90. The business has a fifty day moving average price of $40.70 and a 200-day moving average price of $43.00.

Samsara (NYSE:IOT - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. Samsara's revenue was up 30.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. On average, equities research analysts expect that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Bicket sold 45,952 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $38.67, for a total transaction of $1,776,963.84. Following the completion of the transaction, the insider owned 1,395,347 shares in the company, valued at $53,958,068.49. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sanjit Biswas sold 35,842 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $38.63, for a total value of $1,384,576.46. Following the transaction, the insider owned 978,902 shares of the company's stock, valued at approximately $37,814,984.26. The trade was a 3.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,691,872 shares of company stock worth $111,982,470. Corporate insiders own 46.49% of the company's stock.

About Samsara

Samsara Inc provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy.

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